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The FSC warns the public for unlicensed participants on the capital market

The Financial Supervision Commission (FSC) warns potential investors for companies, which are not entitled to conduct activity as investment intermediaries or management companies on the territory of the Republic of Bulgaria. The FSC regularly conducts inspections of companies for which there are suspicions and information for conduct of investment activities and provision of investment services without the necessary license, as well as inspections of the natural and legal persons related to them. The on-site inspections of the unlicensed participants on the capital market are realized jointly by inspection teams of the FSC, Chief Directorate “National Police” to the Ministry of Internal Affairs and State Agency “National Security” (SANS). In order to protect the rights of customers of financial services and to prevent frauds when investing in financial instruments, the financial regulator actively cooperates with the supervisory authorities of other countries.
 
A List of the companies, which are not licensed by the FSC is maintained and regularly updated on the website of the FSC and is available on the following internet address:
http://www.fsc.bg/bg/novini/spisak-na-druzhestva-koito-ne-sa-litsenzirani-ot-kfn-i-nyamat-pravo-da-izvarshvat-deynost-kato-investitsionen-posrednik-ili-upravlyavashto-druzhestvo-na-teritoriyata-na-republika-balgariya-8122.html
 
In order to protect their interest, the consumers who would like to invest in financial instruments and funds through the conclusion of transactions or through trust management, should first check whether the relevant company is licensed by the FSC and is entitled to provide the relevant service to clients under the issued license.
 
The following companies are not licensed by the FSC and are not entitled to conduct activity as an investment intermediary or management company on the territory of the Republic of Bulgaria:

1. FINANSOV CONSULT LLC ( former name TELETRADE SOFIA LLC);
2. BROKERAGEHRISTO IVANOV SOJSC;
3. 24 TRADE SOJSC (former name EXUS MARKETS SOJSC);
4. DEALERWEB LLC;
5. INVESTORS SOJSC (former name ASTON MARKETS SOJSC);
6. TRADERXP (TRADERXP LLC);
7. TELETRADE BULGARIA SOJSC, SOFIA;
8. INSTAFOREX, RUSSIA;
9. HOTFOREX, MAURITIUS;
10. CITYCAPITAL LLC, SOFIA;
11. BULGARIAN TRADING GROUP, SOFIA;
12. KFM CAPITAL INVESTMENTS SOJSC, SOFIA;
13. INSTA SOFIA LLC;
14. ISLANDBAY SERVICES LLC., trade name BROKER CAPITAL;
15. BROKERS STAR LLC;
16. BELFOR CAPITAL LLC, SOFIA;
17. FX GLORY LLC, PLOVDIV;
18. B.M. INVESTMENTS SOJSC;
19. TRADEPLUS SOLUTIONS LLC., MARSHALL ISLANDS;
20. TVOY MILLION;
21. PLUSOPTION;
22. INTERACTIVE COMPANY SOJSC;
23. ALPHA BROKING SOJSC;
24. TIGER ASSET MANAGEMENT SOJSC;
25. NEW CAPITAL TRUST SOJSC;
26. ATLANTIC CAPITAL SOJSC;
27. ERIDA ASSET MANAGEMENT SOJSC;
28. ROYAL CAPITAL MANAGEMENT SOJSC;
29. PROMETEOS ASSET MANAGEMENT SOJSC;
30. RIGYFIELD CAPITAL MANAGEMENT SOJSC;
31.TIGER ASSET MANAGEMENT LLC, AUSTRIA;
32. NEMESIS CAPITAL BG SOJSC;
33. PROSPER GESIT SOJSC;
34. GDMFX EUROPE SOJSC.
 
Investors should mind that when concluding contracts for the provision of investment services and when submitting orders for the conclusion of transactions with financial instruments, including providing funds or financial instruments for trust management, with companies which are not licensed by the FSC or by the competent authority of another Member State, they could be deceived and suffer significant financial losses.
 
The provided financial instruments and funds by the investors in companies which are not licensed, and respectively are not monitored by the FSC, are not guaranteed by the Investor Compensation Fund. 

Companies, which are licensed as investment intermediaries in countries outside the EU are not allowed to provide investment services on the territory of the Republic of Bulgaria without an authorization issued by the FSC and without being included in the register kept by the FSC.

A list of the investment intermediaries and the management companies licensed by the FSC is available on the website of the FSC ( www.fsc.bg ) in section “Electronic register (ERiK)” at the following address: http://212.122.187.59/public/index.php?lang=bg and http://www.fsc.bg/en/markets/capital-market/lists-of-supervised-entities/investment-intermediaries/

A list of the investment intermediaries from Member States which are allowed to provide investment services and to conduct investment activities on the territory of the Republic of Bulgaria is available on the website of the FSC on the following address:
http://www.fsc.bg/bg/podnadzorni-litsa/notifikatsii/notifikatsii-polucheni-v-kfn/
 
You might submit signals and complaints connected with the activity of the licensed investment intermediaries, as well as with data and suspicions regarding companies, which conduct investment intermediation without the necessary license to the following address of the Financial Supervision Commission – Sofia, 16 Budapeshta Str. or at e-mail address: delovodstvo@fsc.bg
 
Sofia, June 16, 2016